At the 2003 ZEV Regulation hearings, the ARB adopted Resolution 03-4 directing staff to conduct a review of ZEV technologies and to advise the Board on the findings. To accomplish this, in June 2006 the ARB convened an Expert Review Panel to investigate the status of ZEV technologies and will report this information to the Board.
The report reviews three key ZEV areas: battery energy storage, hydrogen storage, and fuel cells. The expert team projected the short and long term prospects for a number of advanced technologies ranging from hybrid and plug in hybrids to fuel cell and battery electric vehicles, and also focused on the ability of car manufacturers to commercialize these advances into production vehicles. Overall, the study found that while progress is continuing and consumer acceptance of "bridge" technologies such as hybrid vehicles is encouraging, significant research and investment is still needed to fully realize the mass commercialization of ZEVs.
"Advanced energy technologies are no longer a novelty of the future,” comments Dr. Klaus Brandt, Chief Executive Officer of Lithium Technology Corporation. “They are necessary today in solving the mounting environmental problems we are facing. California is leading the country in many important environmental initiatives and it is an honor to play a role in the ZEV initiative."
In September 2006 LTC announced its Pollution Buster Challenge by inviting the automotive, agriculture, stationary power, military and recreational industries to join forces to develop effective energy product solutions to fight the growing pollution problems facing today's environment and reduce the world's dependency on traditional fuel sources. Just a month following LTC’s announcement, California Governor Arnold Schwarzenneger announced an executive order to begin implementation of landmark greenhouse legislation, establishing climate change emission reduction targets for California: By 2010, reduce emissions to 2000 levels; by 2020, reduce emissions to 1990 levels; and by 2050, reduce emissions to 80 percent below 1990 levels.
“The technology exists to make a difference today,” says Brandt. "I believe that by committing to work together, auto manufactures and battery companies can bring the cost down to make hybrid and electric vehicles an affordable reality for the consumer and in-turn, significantly reduce emissions."
LTC launched a new product line of lithium iron phosphate (LiFePO4) cells in May 2007, offering the largest cells of their kind in the world. Further demonstrating its commitment, the Company unveiled a Toyota Prius retrofitted with its breakthrough technology demonstrating an achievement of 125 + miles per gallon.
At an event earlier this year, Dr. Andrew Frank, Professor, Mechanical and Aeronautical Engineering at the University of California, Davis, commented, "LTC’s iron phosphate cells provide improved safety with the improved chemistry while delivering the impeccable performance they are known for, which is what the auto makers have been in search of. This is a Company that is seriously committed to making hybrid, plug-in hybrid and electric vehicles an affordable reality for the consumer."
To learn more about the ZEV program and Technology Review findings visit:
http://www.arb.ca.gov/msprog/zevprog/zevreview/zev_panel_report.pdf
About Lithium Technology Corporation: Lithium Technology Corporation (LTC) is a global provider of large format rechargeable power solutions for diverse applications, and offers the largest lithium-ion cells with the highest power of any standard commercial lithium ion cell produced in the western hemisphere. With more than 20 years of experience, LTC leverages its extensive expertise in high power and large battery assemblies to commercialize advanced lithium batteries as a new power source in the military and national security systems, transportation and stationary power markets.
LTC manufactures the GAIA® product line of large, high power hermetically sealed rechargeable lithium-ion cells and batteries. The Company's product portfolio includes large cells and batteries from 10 times the capacity of a standard laptop computer battery to 100,000 times greater. LTC manufactures a variety of standard cells that are assembled into custom large batteries complete with electronics (battery management systems) and electronics to communicate with other components of the system for performance monitoring.
LTC headquarters are located in Plymouth Meeting, PA and R&D in Nordhausen, Germany. LTC sales for the U.S. and European markets are managed out of each of the offices. For more information about LTC, its technology and products, please visit http://www.lithiumtech.com.
Safe Harbor for Forward-looking Statements:
The foregoing information contains forward-looking statements, which involve risks and uncertainties relating to such matters as financial performance, technology development, capital raising, business prospects, strategic partnering and similar matters. A variety of factors could cause LTC's actual results and experience to differ materially from anticipated results or other expectations expressed in these forward-looking statements. This notice does not constitute an offer of any securities for sale.
The Red Consultancy
Nina Velasquez, 212-529-8473
nina.velasquez@redconsultancy.com